Manager - Costing & Budgeting EO628

Manager - Costing & Budgeting EO628

18 Mar
|
CEAT Ltd
|
Mumbai

18 Mar

CEAT Ltd

Mumbai

Job Description



Key Purpose of the Job (Position Summary)





The position shall be responsible for maintaining accurate cost records and for budgeting activities in the Plant and for ensuring control on the conversion cost, under the guidance of the Plant Finance Head. The positions shall be responsible for implementing standard costing and activity based costing systems providing relevant MIS reports.





KEYPERFORMANCE AREAS





Implementation and / or improvement of activity based costing and accounting systems

Identifying Cost Reduction opportunities Reduction of Fixed Cost & Conversion from Fixed to Variable, scrap and indirect material cost

Daily, weekly and monthly monitoring that of Conversion cost and Inventory



No. of process improvements, QIPs and Kaizens

Budget preparation, tracking and variance analysis

Compliance towards statutory audits





KEY ACTIVITIES & RESPONSIBILITIES





Planning Facilitate the annual budgeting process with the Division heads, Plant Finance Head and other support functions

Initiate and coordinate financial planning and budgeting activities at the different divisions and sectors for the plant

Evaluate the various Capex proposals by the departments and develop them further if found suitable





Budgeting



Initiate, coordinate, and prepare Plant specific budgets in line with the guidance provided by Corporate

Conduct the annual budget meeting with the Department heads, Plant Finance Head and other support functions

Liaison with the Department Heads and support functions in submitting their projections and targets in a timely and accurate manner

Extract information of the financial performance of the business from the historical databases

Extract expenses information from the databases relating to direct costs, indirect costs, fixed costs and variable costs

Project the operating costs for production and the project execution by building various scenarios with variables like labor, material cost, time, etc under guidance of GM Finance

Conduct analysis of budget vs actual adherence to budgets for departments

Ensure control over expenses by regular feedback on budgets and actual expenses

Keep control over the Budgeted Capex and Actual Capex spends and highlighting any deviations

Participate with the Corporate Finance team in developing requirements for budgeting standards





Cost Management:



Ensure implementation of standard costing and activity base costing systems in line with corporate guidance

Ensure reconciliation between the financial accounting and costing system to ensure seamless financial reporting and analysis

Perform product costing and raw material costing, to accurately assess product profitability

Provide required information for cost benefit analysis, transfer pricing in consultation with the Plant Finance Head

Ensure timely coordination and analysis of financial information including monthly financial results, preparation of recurring management reports, budgeting /forecasting support

Track and monitor Conversion cost on daily, week and monthly basis and highlight any deviations to key stake holders to discuss upon the resolution

Conduct physical inventory checks and resolve issues with regards to any variance if observed





Cost Audit



Keep Cost Records as required for Annual Cost Audit

Interact with internal and external auditors in completing audits

Ensure adherence to Statutory Requirement of Cost Auditor & Complete Cost Audit

Analyse BOM Vs Actual RM Consumption Analysis

Providing Key Financial Data to outside Agencies (as required)





Documentation, & MIS



Maintain costing and budgeting reports for the Plant

Ensure the high level accuracy and timely submission of all MIS reports

Ensure accurate and timely SAP updation on FICO for all costing processes and activities, and monitor the quality of updation on SAP by the Plant team

Perform variance analysis in SAP reports





Education and Experience Required





Education:



ICWA or MBA Finance



Preferably CA, ICWA or MBA -Finance



Experience:



4 6 years in costing

The original job offer can be found in Kit Job:
https://www.kitjob.in/job/21654549/manager-costing-budgeting-eo628-mumbai/?utm_source=html

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